Atria Wealth Solutions Inc. Buys 4,497 Shares of Innodata Inc. $INOD

Atria Wealth Solutions Inc. increased its holdings in Innodata Inc. (NASDAQ:INOD) by 48.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,699 shares of the technology company’s stock after buying an additional 4,497 shares during the period. Atria Wealth Solutions Inc.’s holdings in Innodata were worth $702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in Innodata in the 2nd quarter worth approximately $36,000. Creative Financial Designs Inc. ADV bought a new position in Innodata in the 1st quarter worth approximately $29,000. Toth Financial Advisory Corp boosted its holdings in Innodata by 40.2% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock worth $59,000 after buying an additional 330 shares during the period. KBC Group NV bought a new position in Innodata in the 1st quarter worth approximately $52,000. Finally, Pinnacle Investment Management Ltd bought a new position in Innodata in the 2nd quarter worth approximately $77,000. 30.75% of the stock is owned by institutional investors.

Innodata Stock Performance

NASDAQ INOD opened at $79.44 on Friday. Innodata Inc. has a 1 year low of $17.56 and a 1 year high of $93.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market capitalization of $2.53 billion, a PE ratio of 64.06 and a beta of 2.96. The company’s 50 day simple moving average is $60.33 and its two-hundred day simple moving average is $48.43.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business had revenue of $58.39 million for the quarter, compared to analysts’ expectations of $56.35 million. Innodata’s quarterly revenue was up 79.7% compared to the same quarter last year. Analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INOD. Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Innodata in a report on Tuesday, October 14th. BWS Financial increased their target price on shares of Innodata from $74.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Wedbush increased their target price on shares of Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Innodata currently has an average rating of “Buy” and a consensus target price of $80.00.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.